ClariVest Asset Management LLC Buys 22,716 Shares of Eagle Bancorp, Inc. (EGBN)
ClariVest Asset Management LLC increased its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 71.6% during the second quarter, Holdings Channel reports. The firm owned 54,443 shares of the financial services provider’s stock after buying an additional 22,716 shares during the period. ClariVest Asset Management LLC’s holdings in Eagle Bancorp were worth $3,446,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Eagle Bancorp during the first quarter valued at about $124,000. Ameritas Investment Partners Inc. bought a new stake in shares of Eagle Bancorp during the first quarter valued at about $158,000. Burt Wealth Advisors boosted its stake in shares of Eagle Bancorp by 4.8% in the first quarter. Burt Wealth Advisors now owns 3,235 shares of the financial services provider’s stock valued at $193,000 after buying an additional 148 shares during the period. Prudential Financial Inc. boosted its stake in shares of Eagle Bancorp by 0.3% in the first quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock valued at $203,000 after buying an additional 10 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of Eagle Bancorp during the first quarter valued at about $301,000. Institutional investors and hedge funds own 67.47% of the company’s stock.
Eagle Bancorp, Inc. (NASDAQ:EGBN) opened at 62.00 on Wednesday. Eagle Bancorp, Inc. has a 12 month low of $47.20 and a 12 month high of $65.00. The firm’s 50-day moving average is $62.73 and its 200 day moving average is $60.80. The firm has a market capitalization of $2.12 billion, a P/E ratio of 20.20 and a beta of 0.70.
Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The company had revenue of $76.72 million during the quarter, compared to the consensus estimate of $75.41 million. Eagle Bancorp had a net margin of 36.20% and a return on equity of 12.55%. During the same period last year, the firm earned $0.71 EPS. On average, analysts expect that Eagle Bancorp, Inc. will post $3.27 EPS for the current fiscal year.
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Several brokerages recently issued reports on EGBN. BidaskClub cut Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $64.00 price target on shares of Eagle Bancorp in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.25.
In other Eagle Bancorp news, EVP Janice L. Williams sold 10,000 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $63.17, for a total value of $631,700.00. Following the completion of the transaction, the executive vice president now directly owns 73,490 shares of the company’s stock, valued at approximately $4,642,363.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leland M. Weinstein sold 8,295 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $62.22, for a total transaction of $516,114.90. Following the completion of the transaction, the director now directly owns 72,469 shares of the company’s stock, valued at $4,509,021.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,924 shares of company stock valued at $2,074,098. 8.39% of the stock is owned by insiders.
About Eagle Bancorp
Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.
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